Common use of Pre-Emptive Right Clause in Contracts

Pre-Emptive Right. The Company hereby grants to each Shareholder a right of first refusal to subscribe for its pro rata share of any such increase in shareholders equity capital that the Company may, from time to time, propose. A Shareholder's "pro rata share", for purposes of this pre-emptive right, shall be determined according to the number of Ordinary Shares owned by such Shareholder immediately prior to the issuance of the Ordinary Shares in relation to the total number of Ordinary Shares outstanding immediately prior to the issuance of the Ordinary Shares. Each Shareholder shall have a right of over-allotment such that, if any Shareholder fails to exercise its right hereunder to subscribe for its pro rata share of the increase in shareholders equity capital, the other Shareholders may subscribe for the non-subscribing Shareholder's portion on a pro rata basis in accordance with Section 9.4 below.